oil and gas

Panoro Energy announces successful drilling of Guebiba 10 sidetrack well in Tunisia

October 27, 2020

TAP)- Panoro Energy announced Monday that the Guebiba 10 sidetrack well ('Gue-10AST') located in the Guebiba oilfield in Tunisia and part of the Thyna Production Services ('TPS') concession had been successfully drilled and completed.

The Gue-10AST well encountered two separate commercial oil zones, with very encouraging results.

The Gue-10A sidetrack, says the company in a press release, 'was drilled with the CTF Rig-06 and encountered a significant oil-bearing upper reservoir interval in the Douleb that represents an extremely attractive future development opportunity.'

Panoro points out that 'during October, production has several times exceeded 5,000 barrels of oil per day (“bopd”), with average gross production levels at TPS for the month of October to date of 4,850 bopd (Panoro net 29.4%), prior to any contribution to come from Gue-10AST.

A number of planned workover activities have also been completed, with others still underway.'

This is the first well to be drilled at TPS since 2015, reflecting Panoro’s and partner the Tunisian National Oil Company (ETAP)’s resolve to increase production in this important set of oil fields forming the TPS concessions.

John Hamilton, CEO of Panoro, said: “We congratulate the entire teams at Panoro, ETAP, and TPS for the close collaboration on the successful drilling of the first well at TPS in the last 5 years.

We had been able to resume postponed operational activities in August and the results are now starting to be harvested, despite very challenging logistical circumstances due to the current pandemic.

The JV has raised production from about 4,000 barrels per day in the first half of the year to approximately 5,000 bopd. Further workover activity is also underway and we look forward to continuing to deliver organic growth at the TPS assets.”

Panoro Energy ASA is an independent E&P company based in London and listed on the Oslo Stock Exchange with ticker PEN.

The Company holds high quality production, exploration and development assets in Africa, namely the Dussafu License offshore southern Gabon, OML 113 offshore western Nigeria, and the TPS operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession, offshore Tunisia.


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